Home solar panels can reduce your electricity bill for decades. But if you're left with questions like, “Really?” or, “What’s the catch?” or, “How do solar panels even work?” no one would blame you, though solar panels are now a commonplace technology.
Powrloo contains other products and information you need, so please check it out.
Whether you’re paying the cost of solar panels upfront and buying them, or getting a solar lease, it’s important to understand your decision and investment. Asking the right questions can help you find the best installer for you and weed out any bad deals along the way.
To achieve the best possible experience when you go solar, let’s play a game of 20 questions you can ask at your next solar consultation.
While you’ll still receive an electricity bill after going solar, you should save money. While it’s impossible to predict exactly how much solar panels can save you, installers can give you a reasonable estimate. Your actual savings will depend on how much your electricity rates change and whether incentives like net metering shift during your solar panels’ lifespan.
Your savings will also shift throughout the year, thanks to solar seasonality. It’s useful to get a clear understanding of your potential savings throughout the year and over the projected lifetime of your solar installation.
Asking your installer about available incentives is important to maximizing the value of your investment. Whether or not you qualify for the federal solar tax credit and other local solar incentives may significantly impact the return on investment of your energy system.
Around the country, solar incentives vary greatly by state and region, with some cities, counties, and utilities offering their own programs, tax credits, tax exemptions, rebates, and more.
Decide whether you will buy or lease a solar system based on your personal preferences, financial goals, and available options and make sure your installer can deliver what you want.
Buying means the system is your property and, in most cases, you will save more over the lifetime of your systems. A lease or power purchase agreement, such as Palmetto’s LightReach Energy Plan, will give you solar power from a home system with no upfront cost and manageable monthly payments.
Unless you’re able to pay for your panels upfront or are leasing them, you may need to finance your system through a loan. Many reputable solar installers offer loans, though you can always shop around..
By working with a company with multiple financing options, you are more likely to find a solar loan structured to fit into your budget that can unlock your long-term savings on electricity.
One of the most common questions solar companies are asked is, “What type of panels do you install?”
While there are differences in performance among solar panels, you probably don’t need to stress over the options. In some instances it may be beneficial to pay a bit more for highly efficient solar panels, you can typically achieve your savings and energy goals with multiple solar panel options, so long as your installer can provide solar panels of typical efficiency (around 20%) and wattage (350 watts and above).
You will likely have multiple solar warranties (product, performance, installation) associated with your energy system.
Before signing on the dotted line, talk to your installer about exactly what each of these warranties covers, how long the coverage periods are, and if you can extend the policies during the lifetime of your solar panels.
Along with warranty coverage, you should talk to your installer about the likelihood of system damage and what repair or maintenance procedures will be, even if solar panel maintenance is typically infrequent.
If you’re covered by a maintenance and monitoring plan, your installer will have a dedicated customer service team that can field your request and repair the part as soon as possible, ensuring your system will be back up and running without excessive time offline.
If you purchase an electric vehicle or grow your family, your electricity consumption will grow. If you anticipate you may want to expand your solar energy system in the future, talk to your installer about this possibility and what an upgrade may look like.
Depending on system setup and available space, it may be a better idea to oversize your solar system initially rather than add panels later. Or, your installer may make expanding easier by designing a microinverter-based solar system.
A company that sets an installation timeline (and has the past projects to prove it) is more likely to deliver a good end result. When talking to your solar installer, ask them about the anticipated installation schedule.
Although they may not be able to tell you a precise interconnection date during your initial conversation, reputable companies should be able to provide a breakdown of your solar installation timeline, including permitting, equipment delivery, and construction.
If your installer has a referral program, it’s a strong sign they are used to delivering good customer experiences. As the best advocates for any company are its customers, many solar companies will compensate those who refer new business in bill credits or cash.
If a solar contractor gives you a price and doesn’t explain how they arrived at that number, it’s a red flag you may not be getting the best deal possible. Although the average cost of solar panels varies across the country, the total price of any solar energy system can be broken down into hard and soft costs, including expenses associated with hardware, permitting, labor, and business overhead.
Inverters turn the electricity your solar panels generate into electricity you can use at home. String inverters and micro-inverters are the two main options. As every home solar project is different, choosing the right technology can maximize your system performance and return on investment.
If you purchase or finance your solar energy system with a reputable solar installer, they should be able to forecast an approximate break-even point at which your system will have paid for itself in savings.
In general, solar panel payback periods average somewhere between 7-10 years, depending on your location, the size of your system, and many other factors. A solar installer should be able to break down the expected performance of your system as it relates to the price of electricity in your area over time.
Today, most solar panels are installed with smart components that report system performance directly to a digital landing page. The Palmetto App, for example, allows you to track your solar panel performance alongside your electricity consumption (with a supported meter).
Even though it may be 20-30 years or more into the future, asking your installer about the end of your system's lifespan can help you avoid unwanted surprises later on.
Solar companies that plan to be around for decades are sure to have an answer for you when you ask about the decommissioning process. Critically, the end of your lease contract may give you options, like renewing your lease at a new rate, or buying out the system at the market value.
In recent years, some solar companies have gone out of business. Working with an established, experienced solar company could help you avoid picking a company that’s going to go out of business.
A company able to answer all your questions in a helpful way without putting pressure on you is a sign of a partner you’ll be able to work with and depend on for a long time.
Solar can supply you with the electricity you need to run your house, but reducing the amount of electricity you need can lead to savings, too. Getting an energy audit, upgrading your insulation, or electrifying your HVAC system or water heater may open the door to greater savings.
Your solar installer should be definitive about the state of your roof before installing solar panels. Your roof should be healthy at the time of installation, and replacing your roof and installing solar at the same time can save you time and money.
If you want to learn more, please visit our website energy storage sports equipment.
Going solar can be a great time to also electrify your home with a heat pump or other efficient, electric appliances, install an EV charger, add battery storage, or replace your roof. Combining projects could save you time and money, especially if you use the same company, and let you stretch your solar electricity farther.
When weighing your solar options, you should feel free to open up the discussion and allow installers to explain exactly why they deserve the job. A professional solar expert should want to give you all the info you need rather than stick to a sales pitch and make you feel forced into a decision.
In a high-pressure sales scenario, you may start to feel a solar installation company is pushing you to sign a contract right there, right now. If you feel rushed, asking for some time to make your decision will quickly show whether or not the company is acting in your best interest or is simply out to get your money.
Occasionally impending policy changes mean you need to rush, but even with those caveats, a reputable company should be happy to do follow-up calls and help you feel confident in your choice.
The right solar company should answer all your questions and concerns today and seem like a partner you’ll want to work with for 25 years or longer. Before, during, and after installation, is the solar installer listening to you and your needs? Or pressuring you into a specific plan, design, product, or deadline?
Your new home solar power system should deliver savings and reliable, clean, and renewable energy. It should be easy to understand and operate without extra work or stress.
Interested in seeing what it's like going solar with Palmetto? Or still have questions about solar in general? Get started today by using our solar savings calculator or contacting a Palmetto solar expert.
How do you prepare for a solar installation?
Before you go solar, get to know your energy usage and current utility bills. You can check your property’s suitability for solar, including your roof’s health and shading, and confirm that tax credits, net metering, and other incentives apply to you.
How do you find a good solar installer?
It’s ok to interview and ask many, and even tough, questions of a solar installer before committing to a major project, a substantial amount of money, and years of working together. You are looking for a person or company that’s knowledgeable, experienced, professional, and helpful.
Can solar panels really save you money?
Millions of homes in the US are saving money with home solar panels. While solar panels aren’t a fit for every home, they can lower energy bills and generate long-term savings. A reputable solar company will be able to explain the savings potential of solar at your home, including when it’s too small to be worth it.
Smart investors know it pays to look beneath the surface. On the face of it, the global renewables sector is on a high, buoyed by a record US$1.8t investment in clean energy in which saw the biggest ever absolute increase in new capacity — 507GW, two-thirds of it solar.2
But dig a little deeper, and the picture isn’t quite so rosy. Last year’s surge puts investment on track to increase global renewables capacity by two and a half times by , which, while encouraging, still falls short of the COP28 target to triple renewables capacity by that date.3 And challenges loom on the horizon that may slow progress just as acceleration is needed.
Years of underinvestment in infrastructure means network gridlock has now reached acute proportions in many markets, depriving developers of a timely route to market and eroding the value of investments. Grid upgrades and expansion are urgently needed. In Europe alone, annual investment in distribution grids must double to €67b (about US$73b) by , according to the EY-Eurelectric Grids for Speed study.4 Projects locked in grid queues are tying up money that would otherwise be cycling through the system, exacerbating an already tight capital market where investors face much higher costs. Rates of grid curtailment are increasing, from 2% in to 8% in in the US, UK, Germany and Ireland, as the share of renewables in the system doubled.5
Battery energy storage systems (BESS) can be part of the solution to network challenges and, as we explore in this edition of RECAI, offer lucrative revenue opportunities for sophisticated investors — if they target the right regions and consider four factors.
Read in RECAI 63:
Investor interest is also on the rise. But this isn’t an easy market to master. BESS investments are a long-term commitment; projects typically run for 20 years or more with battery upgrades. They are also highly localized and carry more risk than some other clean energy investments. Success requires understanding the dynamic interaction of regional variations, electricity market design, technology and financing — as well as an acceptance of volatility.
To help cut through the complexity, EY teams have identified and ranked the attractiveness of the world’s top global battery investment markets for the first time. (This assesses factors including installed capacity and pipeline, as well as government support, such as tenders, subsidies, policy and deployment targets.)
In many markets, ancillary markets, particularly frequency response services, have typically made up much of BESS revenue. But market saturation is seeing prices drop and the stack shifting toward energy arbitrage and capacity markets. For example, in the UK, ancillary services made up 84% of BESS revenues in but, so far in , are only contributing 20%.16 Across Europe, it is a similar picture.
In the future, optimization and the right bidding strategy will be critical to ensure maximum returns on storage assets. Value opportunities will become more localized as renewables proliferate and volatility increases. Negative or zero-price events, already on the rise, will become more frequent, strengthening the role of storage.
Continuing to capture value in a fast-changing market requires agility. This demands both a flexible mindset and the artificial intelligence (AI) and digital tools that enable fast, insight-driven shifts.
“Understanding and leveraging AI and digital tools for optimized storage trading strategies can help companies de-risk investments, navigate regulatory changes quickly, and better monetize opportunities presented by new market structures and market volatility,” explains EY Global Energy & Resources AI Lead Ana Domingues.
Mastering data and monitoring technology evolution can guide smart decisions as technology evolves. For example, the move toward longer duration batteries and emerging competitiveness of alternative storage systems, such as hydrogen and vehicle-to-grid technology, could erode the future business case.
BESS projects are capital-intensive, requiring financing and active management throughout their life. This means investors should ensure finance and offtake strategies with buyers are linked. For example, they should consider whether the goal is long-term contracted revenues or if they are willing to take merchant risk for a potentially higher return. Investors also need to accept a level of volatility and a longer-term view over various cycles.
The complexity of BESS projects means success will depend on investors having differentiated capabilities across the value chain, as well as strong management teams with local market capabilities. Relationships with landowners can smooth the development process, as can understanding local planning regimes and regulation, as well as offtake markets.
The ability to reduce capex is vital to scaling up BESS investment. Costs of grid-scale BESS are expected to fall by around 20% to 30% across key markets by , but reductions may be offset by volatile commodity prices and supply chain bottlenecks. For example, slow lead times in building transformers can delay the connection of new BESS projects to the grid.
China Mainland’s dominance of the battery supply chain amid growing resource nationalism and protectionism in many markets could impact the viability of future projects. Battery recycling could help mitigate some risks, and more companies including Iberdrola, Glencore, and FCC Ámbito, are collaborating on lithium-ion battery circularity solutions.
Ambitious decarbonization targets are driving a clean energy push in many markets, marked by record-breaking participation in offshore wind and solar tenders, as well as innovative projects in carbon capture and hydrogen.
While the top of our rankings remains relatively unchanged, Canada (9) and Japan (10) enter the top 10, with investors attracted by more opportunities in offshore wind. Spain (12) has dropped four places as investors feel the impact of continued low prices, while Italy (13) and Greece (16) have climbed up the ranks.
In a year when about half the world will be voting in elections, Argentina’s rise of three places (to 26) under a government determined to build a more sustainable, clean energy system is a reminder of how quickly government policy can impact investment.
Want more information on energy generating exercise bike? Feel free to contact us.